Thanks to Markit for the graph and explanation.
LCDX Information
On Tuesday May 22nd, CDS IndexCo, a consortium of dealer banks active in the loan and credit default swap markets, launched in conjunction with Markit the newest arrival to the CDS Index Co family of indices - LCDX.
The index consists of 100 reference entities, referencing 1st lien loans listed on the Markit Syndicated Secured List. 14 banks are making markets, ensuring strong liquidity from the start.
Awesome timing. Now, anybody want to buy a basket of housing backed debt obligations?
10 comments:
Tony you looser.
FF&M
I love the fact we send trade reps to China and try to get them to buy our MBS crap. Too funny.
Only thing better is the fact that the PRC bot 10% of BX @ the IPO only to promptly crater 25%! That'll teach them!
Hedge funds, etc. can short the index in an attempt to cover their losses, so it could prove useful to them.
Gameover,
There's a shill on the Financial Entertainment Network as I type talking about Chinese insurance companies being directed to invest in US assets! With a straight face. When worldwide liquidity dries up the shallowest markets will be stranded first.
Polizeros,
We need to decant $7Trillion from the housing valuation in this nation. We'd need hundreds of shorts or squeezes or some such manipulation to even be statisically significant.
The Dark Lord and his Four Horsemen of the Economy are about to do the happy dance on television and I'm waiting to do a futures deal. More on that last later.
Duane - you need to be extremely careful with your lastest exchange with Casey. You can't condition not sending the documents to the authorities on him giving you something.
18 U.S.C. 875(d):
"(d) Whoever, with intent to extort from any person, firm, association, or corporation, any money or other thing of value, transmits in interstate or foreign commerce any communication containing any threat to injure the property or reputation of the addressee or of another or the reputation of a deceased person or any threat to accuse the addressee or any other person of a crime, shall be fined under this title or imprisoned not more than two years, or both."
Do you really want to give Casey that leverage?
Neil,
Casey thread two posts down.
Sorry - thanks.
Rob, quick question. When did you do away with anon's? It really is appreciated!
About 2-3 weeks ago. Too many people too lazy to type in something under "other." and a raft of professional net terrorists using volume to stiffle quality. People can still post anon but have to take more than 10 seconds to do it thus exceeding the attention span of the typical disruptor.
BTW, the issues at CH.c are why I never went to forums. The management was too much and the dilution of openness just didn't work for me. To each their own, not a criticism.
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